Whether a current boat owner, in the market to upgrade or take that first exciting step into boat ownership, staying across the latest boating news can be extremely beneficial. Having the latest information on launching ramps and upgrades and development of boating facilities can make boaters aware of new places to visit.
Staying across the latest from organisations such as Marine Safety and emergency services in the area of boating and the Bureau of Meteorology can assist in ensuring a safer boating experience. This is particularly relevant at the moment with rivers in several states causing flooding and dangers in many waterways. For those ready to purchase a new boat with finance, being aware of what’s happening with interest rates may assist in timing the buy.
We bring a number of recent news items to your attention along with an update on marine finance interest rates for buyers.
New Boat Ramp – Rocky Valley Lake
A new boat ramp has been developed and is now open for easier access to Rocky Valley Lake aka Rocky Valley Dam. At 1600m above sea level, this amazing waterway is located in the Falls Creek Alpine region and has the rep for the highest, boat-accessible boat of water in Australia.
The dirt launching ramp to the lake has now been replace by a 60m concrete ramp for easier accessibility for boat owners. There are reportedly other development and improvement plans underway and as this renowned for its trout fishing, Rocky Valley may be a new location to explore this summer.
New Plans – NSW South Coast
Plans for improving boating on the NSW South Coast town of Eden have advanced with the NSW Transport Minister, David Elliott announcing opportunities for private investors in regard to the Snug Cove Maritime Precinct.
The Cove has received funding through the Eden Safe Harbour Project to advance the plan to become a hub of recreational boating. A wave attenuator will be added as protection against the swells. Eden is now a destination for cruise ships as well as a major port for the Australian Navy and commercial fishing operators.
Recreational boaters do have to share the port but hopefully can have the opportunity to take advantage of the developments as they are realised. Information on progress on the overall Safe Harbour Project can be followed at the NSW Government website.
Inland Lake News - Victoria
In the Gippsland region, planning and design is under way to improve accessibility to Lake Glenmaggie and Blue Rock Lake. The works form part of the Victorian Government’s Recreational Boating Action Plan. The plans for Blue Rock include a pontoon for ‘all-abilities’ at the Old Tanjil Road boat ramp. This lake is very popular with fishers as the Fisheries Authority regularly stocks it with trout and native bass.
The ramp at Lake Glenmaggie will also receive attention with an extension. This will improve access during low water level periods. This is also a popular fishing spot which is regularly restocked. For those wanting to stay across developments at Gippsland and other boating spots, refer to Better Boating Victoria.
Australian Sailing News
With the Sydney to Hobart Yacht Race countdown underway, we focus on what’s happening in sailing and some of the recent big news is the announcement of finalists in the prestigious Australian Sailing Awards. The awards recognise individuals, volunteers, clubs and stars of sport in the nation’s peak awards for sailing across numerous categories.
The finalists include gold medallists from the Olympics, world champs as well as those that have made significant contributions. They include Tom Slingsby, Matt Wearn, Mara Stansky, Evie Saunders, maxi owner and sailor Matt Allen, para sailor Robert Crofts amongst many others.
The winners will be announced at a gala event on November 4.
The Bureau of Meteorology has been in the news lately for non-weather related matters. The Bureau issued a new style guide for media outlets that the Bureau no longer wanted to be known as BOM or BoM. We oblige with changing our references! Some changes may be seen in the Bureau’s social media platforms, but the accounts appear unchanged.
With La Nina and the resultant rain causing serious inland flooding, staying across information from the Bureau and all boaters are strongly encouraged to download the app for live updates when they are on the water.
Boat Finance Interest Rate News
For those in the market for a new boat and requiring finance, the most significant news could be around what’s happening with interest rates. The RBA has now announced 6 rate hikes in 6 months and stated that further are to be expected. This has resulted in increases in rates across many lending sectors as many Australians will be well aware of.
As with other sectors, lenders in marine finance will also respond to RBA decisions with their own rate decisions. These decisions can vary depending the individual lender’s approach to and interest in the marine finance aera. As can easily be seen in our Rate Comparison Chart, interest rates on boat loans do vary across the market but we are maintaining our position and policy for achieving cheaper rates.
The next meeting of the RBA Board in regard to cash rate decisions is on Tuesday 1 November. This is always an ‘interesting’ meeting as it coincides with the Melbourne Cup. Staying across the outcome of both these events may be advisable.
For prospective buyers wondering how a possible next rate rise may affect their boat loan, use our Finance Calculator and adjust the rate slightly to calculate rough estimates. A November rate rise may not be the last increase in the near future so moving quickly with finance for that purchase may be a cost- saver.
Staying across boating news including boat loan interest rates can contribute to achieving better boat finance and a safer and more enjoyable boating experience.
Contact Jade Boat Loans on 1300 000 003 for boat finance before the next rate rise.
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.